[摘　要]　在BOT项目中，特许期与特许价格是两个关键参数。在特许价格或特许期调整空间有限的情况下，通过分析不同净现值率对特许价格和期限的影响程度，构建两种不同情况下的决策模型，以期解决项目利益相关者对投资效益指标不满意的难题。通过对已知数据的回归分析，对未来净现值进行预测，并运用决策模型对特许价格与期限进行动态调整，使BOT项目利益相关者满意。这种调整方式有利于政府规避项目公司收益过高的风险，也使整个项目的风险分摊更加均衡。

[关键词]　BOT；特许价格；特许期；动态协调机制

Abstract: In the BOT project, concession price and term are two key parameters. In the concession price or concession period adjustment under the condition of limited space, through the analysis of the influence degree of different net present value rate to concession price and concession period,, build NPVR1 > NPVRmax and NPVRmin > NPVR1 > NPVRlow decision model under two kinds of situations, in order to solve the problem that project stakeholders are not satisfied with investment performance indicators. Through regression analysis of the known data, predicts the future net present value, and uses decision-making model to dynamically adjust the BOT concession price and term, to make the BOT project stakeholder satisfaction. The adjustment way makes the government to evade the risk that the project company income is too high, makes the whole project risk sharing more balanced.

Key words: BOT; concession price; concession period; dynamic coordination mechanism

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